trading halt, page-14

Trading days from substantial notice (28/04/2011) to trading halt date
(13/05/2011) = 12 trading days

Average volume = 2.612m

Thus at most Baiyin had acquired during this time = 2.612m x 12 = 31.344m which is ~4.00%

Add that to their already owned 17.7% stake = 21.5% stake.

So my previous statement stating that they may have already achieved a controlling stake is flawed. To acquire a controlling stake they would need 49%+ of which they are way off.

However, they may have acquired a stake above 19.9%, which requires them under the ASX rules to launch a formal take over of the company, which I assume they have already.

So rest assured at most they have is a 21.5% stake, so we are still the majority with strong bargaining power.

I won?t be happy with anything less than 68c to be honest, even that I think is to low (representing only a 28% premium to the base price of 53c) when weighed against the future value and potential of the company is, a joke.